4.
Lundberg Base Metal Deposit Preliminary Economic Assessment June 2011The preliminary economic assessment is based only on Inferred Mineral Resources and are not Mineral Reserves and donot have demonstrated economic viability. Inferred Mineral Resources are considered too speculative geologically to havethe economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there istherefore no certainty that the conclusions of the PEA will be realized.

19.
Manganese Woodstock Deposits Market• Manganese critical to Steel production – 10 kgs / 1 tonne steel• Growing Market • 8% per year for Manganese Ore Concentrates for a total current market of 13.6 million tonnes per annum • 26% per year for Electrolytic Manganese (EMM) for a total current market of 1.2 million tonnes per annum• Electrolytic Manganese supply controlled by China • 97.4% of the 1.2 million tonnes per annum• No North American production • American Manganese planning production of 50,000 tonnes per annum• Customers seeking secure supply chains• North American ores amenable to lower cost production techniques

22.
Manganese Woodstock DepositsRoadmap to Development• Potentially one of the largest Woodstock ManganeseManganese resources in North America (Historic non 43-101 compliant)• historic non NI 43-101 compliant Deposit Tonnes Mn % Fe % (uncategorized)• Manganese leaching confirmed in1987 metallurgical tests by Witteck Plymouth 46,500,000 * 10.9 13.3Development Corp. North Hartford 45,000,000 * 8.00 12.0• Potential to produce high puritymanganese products that include EMM, South Hartford 45,000,000 * 8.00 12.0EMD, Manganese dioxide powder,carbonate, hydroxide, and sulphate * These resources are historic in nature and are not national instrument 43-101 compliant and rely entirely on data provided by other sources which have not and cannot be independently verified at this time. As such, the data discussed herein should not be relied upon, but are presented as an indication of the exploration and development potential of the mineralization described.• 2011 drilling & hydrometallurgicaltesting begins to confirm and optimizeMn leaching & purification of Mnsolution

27.
Forward Looking Statement DisclaimerThis powerpoint presentation contains or refers to "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements in thisrelease, other than statements of historical fact, which address activities, events or developments that Buchans Minerals believes, expects or anticipates will or may occur inthe future are forward-looking information. Wherever possible, words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts","anticipates" or "does not anticipate", "believes", "intends" and similar expressions or statements that certain actions, events or results "may", "could", " "would", "might"or "will" be taken, occur or be achieved, have been used to identify forward-looking information.In particular, all statements in this powerpoint presentation that address estimated resource quantities, grades and contained metals, possible future mining, and explorationand development activities are forward looking statements. By its very nature, a preliminary economic assessment (“PEA”) prepared by Wardrop Engineering(“Wardrop”) is preliminary. The PEA includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied tothem that would enable them to be categorized as Mineral Reserves, and there is no certainty that the findings of the PEA will be realized. Wardrops assumptions,estimates, expectations, analysis and opinions used in the PEA are based on the information available to Buchans Minerals and Wardrop as of the date of this news release.Wardrops assumptions and estimates are based on experience and perceptions of trends, current conditions and expected development as well as other factors thatWardrop believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. In particular, assumptions have been made regarding a numberof variables that impact the Lundberg project and include, among other things, market prices for metals, exchange rates, inferred resource tonnages & grades, strippingratios, processing techniques, through-put rates, flotation recoveries, concentrate grades, smelter charges, transportation charges, tailings disposal, waste rock disposal, sitereclamation, equipment salvage, operating costs (including mining, processing & general administrative costs), capital costs and assumptions that all the necessaryregulatory (including environmental) permits will be issued in respect of the project.Readers & viewers are cautioned that the foregoing list is not exhaustive of all factors, variables and assumptions which may have been used. Buchans Minerals is subjectto the specific risks inherent in the mining business as well as general economic and business conditions. Buchans Minerals’ actual results, programs and financial positioncould differ materially from those anticipated in such forward-looking statements as a result of a number of factors, many of which are beyond the Company’s control.These factors include, but are not necessarily limited to, results of the exploration activities and development of mineral properties, the interpretation of drilling results andother geological data, the uncertainties of resource estimations, receipt and security of mineral property titles, receipt of licenses required to conduct mining activities,country risks, project cost overruns or unanticipated costs and expenses, the availability of funds, fluctuations in metal prices, currency fluctuations, and general market andindustry conditions. Although the Company believes the expectations expressed in the PEA and other forward looking statements are based on reasonable assumptions,there is no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in suchinformation. Accordingly, such statements should not be in any way construed as guarantees of future performance as actual results or developments may differ materiallyfrom those forward-looking statements and readers should not place undue reliance on this information.